Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.002%

Price spread now: Bitget against Lighter+0.125%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$250.250% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.138%+$14 on $10k

Price spread, last 4 days (all we have)−0.130%−$13 · spread now +0.125%, 7d avg −0.005%

Together, before fees+0.008%+ Points / potential airdropLighter: Season 3 · farm board+$1 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.131% dearer against Lighter than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AVAX	11.182	0.0096	pay 0.0012% / 1h	46m 06s	$1.2M	$3.1M	10x
Short	Bitget AVAXUSDT	11.196	0.0100	get 0.0100% / 8h	2h 46m	$34.4M	$61.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee LighterbpFee BitgetbpOrdersPrice spread, now +0.125%Rate

Funding earned: $0.84
Price spread: +0.125% → −0.005%: $13.06
Slippage, 4 orders: −$12.96
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$11.06
Costs to cover: 0.250%
Break-even: 99.2 days

Slippage from Lighter: live order book, 6 min ago; Bitget: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Lighter live order book, 6 min ago	3.19 bp	3.3 bp −$3	13.0 bp −$130	92.2 bp −$9,222	doesn't fit
Sell Bitget live order book, 3 min ago	0.45 bp	9.2 bp −$9	17.0 bp −$170	46.0 bp −$4,598	doesn't fit

AVAX on 36 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit AVAX_USDC-PERPETUAL	−0.0197%	1h	11.182	0.000%	$5.3M	$9.4M	25x	as long as short
Variational Omni AVAX	−0.0185%	8h	11.129	−0.478%	$2.9M	$2.1M	—	as long as short
Nado AVAX-PERP	−0.0106%	1h	11.170	−0.103%	$296K	$956K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.100	−0.733%	$17K	$127K	12x	as long as short
Extended AVAX-USD	−0.0008%	1h	11.181	−0.009%	$666K	$2.3M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.186	+0.036%	$98K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.186	+0.038%	$13K	—	150x	as long as short
Bybit AVAXUSDT	+0.0040%	8h	11.204	+0.197%	$84.7M	$149.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0042%	8h	11.200	+0.161%	$20.0M	$147.3M	50x	as long as short
Gate AVAX_USDT	+0.0047%	8h	11.183	+0.009%	$12.5M	$39.6M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.180	−0.018%	$892K	$8.1M	50x	as long as short
Phemex AVAXUSDT	+0.0058%	8h	11.176	−0.054%	$30.0M	$4.8M	50x	as long as short
MEXC AVAX_USDT	+0.0064%	8h	11.184	+0.018%	$54.1M	$108.6M	200x	as long as short
Binance AVAXUSDT	+0.0067%	8h	11.178	−0.038%	$119.9M	$538.8M	75x	as long as short
Paradex AVAX-USD-PERP	+0.0094%	8h	11.179	−0.025%	$13K	$766	20x	as long as short
Lighter AVAXlong	+0.0096%	1h	11.182	long leg	$1.2M	$3.1M	10x
Popdex AVAXUSDT	+0.0096%	1h	11.174	−0.072%	$13K	$697K	50x	as long as short
Aevo AVAX-PERP	+0.0096%	1h	11.181	−0.009%	$257K	—	3x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.185	+0.031%	$2.3M	$2.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.180	−0.015%	$297K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.185	+0.027%	$15.8M	$24.6M	75x	as long as short
Bitget AVAXUSDTshort	+0.0100%	8h	11.196	+0.125%	$34.4M	$61.1M	75x
BingX AVAX-USDC	+0.0100%	8h	11.177	−0.045%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.184	+0.018%	$326K	$553K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.124	−0.521%	$357K	$907K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.130	−0.465%	$179K	$685K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.180	−0.018%	$117K	$466K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.192	+0.089%	$201K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.205	+0.204%	$12K	$712K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.181	−0.009%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.184	+0.013%	$358K	$1.1M	75x	as long as short
BloFin AVAX-USDT	+0.0185%	8h	11.174	−0.072%	$5.0M	$8.7M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.178	−0.033%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0257%	1h	11.189	+0.062%	$4.7M	$13.6M	50x	as long as short
Hyperliquid AVAX	+0.0390%	1h	11.198	+0.143%	$42.5M	$58.4M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0244%	1h	11.186	+0.035%	$241K	—	120x	as long as short